justatrader
Short

NZDUSD - Bearish flag break out

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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I'm not a particularly big fan of shorting the Kiwi considering the interest rate difference. However, for those who don't mind the -ve swaps, the bearish flag on NZDUSD offers a great opportunity to short NZDUSD towards 0.7742 and 0.7455 on a retest to 0.78772
I agree and you post many good trades that have put pips in my pocket ), just wonder if the 0.7814 support will hold. That will be my TP 1 and then the 0.7741 as TP 2. what do you think
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It should reg. 7814, which will see a bounce back higher to test the breakout entry. If 7814 support fails, you can be sure of 0.77417 very likely to see a bounce. Also ahead is 7816 level to keep an eye out on. Today will mark the 3rd day of decline from daily charts after that bearish spike/pin bar, so a retracement is definitely likely. Look to H4 or H1 candlesticks as they signal early on about possible change in direction.

I'm surprised you are short on NZDUSD.
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FOREXEL justatrader
Will do, thank you )
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